Aperio Group LLC Purchases 1,489 Shares of Cummins (CMI)

Aperio Group LLC boosted its position in Cummins (NYSE:CMI) by 1.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 133,603 shares of the company’s stock after purchasing an additional 1,489 shares during the quarter. Aperio Group LLC owned about 0.08% of Cummins worth $21,656,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CMI. Pendal Group Ltd grew its holdings in Cummins by 31.9% in the 1st quarter. Pendal Group Ltd now owns 7,957 shares of the company’s stock valued at $1,290,000 after buying an additional 1,925 shares in the last quarter. American International Group Inc. grew its holdings in Cummins by 3.0% in the 1st quarter. American International Group Inc. now owns 89,101 shares of the company’s stock valued at $14,442,000 after buying an additional 2,613 shares in the last quarter. ING Groep NV purchased a new stake in Cummins in the 1st quarter valued at $2,579,000. Synovus Financial Corp grew its holdings in Cummins by 84.6% in the 1st quarter. Synovus Financial Corp now owns 4,029 shares of the company’s stock valued at $654,000 after buying an additional 1,847 shares in the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in Cummins in the 1st quarter valued at $2,127,000. 84.18% of the stock is owned by hedge funds and other institutional investors.

Cummins opened at $146.36 on Friday, according to Marketbeat Ratings. Cummins has a 12-month low of $146.71 and a 12-month high of $147.90. The company has a current ratio of 1.58, a quick ratio of 0.99 and a debt-to-equity ratio of 0.19. The stock has a market cap of $24.13 billion, a P/E ratio of 13.78, a PEG ratio of 0.94 and a beta of 1.24.

Cummins (NYSE:CMI) last posted its earnings results on Tuesday, May 1st. The company reported $3.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.91 by $0.39. Cummins had a return on equity of 23.47% and a net margin of 4.33%. The firm had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.18 billion. During the same quarter in the prior year, the company earned $2.36 EPS. Cummins’s revenue was up 21.4% on a year-over-year basis. equities analysts forecast that Cummins will post 13.67 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Friday, May 18th will be paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Thursday, May 17th. Cummins’s payout ratio is 40.68%.

Several analysts have issued reports on CMI shares. TheStreet upgraded Cummins from a “c+” rating to a “b” rating in a report on Tuesday, May 1st. Zacks Investment Research upgraded Cummins from a “hold” rating to a “buy” rating and set a $193.00 price target for the company in a report on Friday, February 9th. ValuEngine upgraded Cummins from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Bank of America upgraded Cummins from a “neutral” rating to a “buy” rating and set a $215.00 price target for the company in a report on Friday, January 19th. Finally, Wells Fargo reiterated a “buy” rating and set a $195.00 price target (down from $210.00) on shares of Cummins in a report on Thursday, February 22nd. Three research analysts have rated the stock with a sell rating, eighteen have given a hold rating and three have issued a buy rating to the stock. Cummins currently has a consensus rating of “Hold” and a consensus target price of $171.45.

Cummins Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins and other customer brands for the heavy-and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets.

Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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